Adolescent Consumer Vulnerability: Consumer Socialization Perspective

G P K Nishadi,B N F Warnakulasooriya,K P L Chandralal

doi:10.4038/sljmuok.v7i3.75

G P K Nishadi, B N F Warnakulasooriya + Show 1 more

Open Access

https://doi.org/10.4038/sljmuok.v7i3.75

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Abstract

Understanding variety of areas of vulnerabilities that Adolescent Consumers are facing in today’s market place is very important and broadly discussed topic within the current literature. However, desired research findings do not exist to figure out what exactly Adolescent Consumer vulnerability refers and actual vulnerabilities, adolescents are facing via socialization. Within this backdrop, this systematic literature review conducted to fill those existing knowledge gaps and identify suitable research areas and future prospects within the field of Adolescent Consumer Vulnerability from Socialization perspective. A careful examination of 40 papers, published within 2005-2020 period led to the identification of five research areas with current importance. Thus, the study revealed how; Peers, Parents, TV Advertising, Online context and Retailers, influence on Adolescent Consumer Vulnerability. Finally, the review results highlighted the existing knowledge gap of moderating role played by socio demographic structure on the direct relationship between Socialization Agents and Adolescent Consumer Vulnerability.

Highlights

Consumers, who are vulnerable, fail to understand their own preferences and lack the knowledge, skills, or freedom to act on them. (Baker et al, 2005; Ringold, 2005; Taylor et al, 2005)
A significant number of researches are available on consumer vulnerability, desired research findings are not enough to figure out the vulnerability of Adolescents to various Socialization Agents (Kennedy, et al, 2019; Somasiri and Chandralal, 2018; Luo, 2005)
The results of this review contribute to a better understanding of Adolescent Consumer Vulnerability and show important gaps for future researches

Summary

Introduction

Consumers, who are vulnerable, fail to understand their own preferences and lack the knowledge, skills, or freedom to act on them. (Baker et al, 2005; Ringold, 2005; Taylor et al, 2005). Consumers, who are vulnerable, fail to understand their own preferences and lack the knowledge, skills, or freedom to act on them. Understanding Consumer Vulnerability from a Class or Group‐focused perspective is useful and certain classes should be identified as more likely to experience vulnerability (Kennedy, et al, 2019; Commuri & Ekici, 2008;). A significant number of researches are available on consumer vulnerability, desired research findings are not enough to figure out the vulnerability of Adolescents to various Socialization Agents (Kennedy, et al, 2019; Somasiri and Chandralal, 2018; Luo, 2005) Extant literature revealed that consumers are vulnerable due to; Low literacy and language skills (Stewart & Yap , 2020; Jayasundara et al, 2020; Nishadi, 2020; Crowell, 2014; Broderick et al, 2011), Gender (Lacoba et al, 2020; Li et al, 2020; Fox & Hoy, 2019; McCoy et al, 2017; Nora et al, 2015; Svensson 2003; Barber, 2013) Lack of resources (FCA, 2014; Canhotoa & Dibb, 2016), Income (Powell & Binh, 2013; Li et al, 2020; Khan et al, 2012; Bowman et al, 2004), Social Class (Paniagua et al ,2014; Ranjith et al, 2015; Skårdal et al, 2014; Svastisalee, et al, 2012; Wills et al, 2009; Hanson and Chen, 2007) and Older age (Melnikas & Smaliukiene, 2007; Moschis et al, 2011; Silvera, Meyer & Laufer; Berg, 2015).

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